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Gold/Mining/Energy : El Misti Gold Limited (EMG V)
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To: Dave Kosmayer who wrote (38)9/30/1997 9:45:00 PM
From: charred   of 513
 
Dave

I can't say what to do but lets look at the history of this company. Thanks to this SI Thread, I read that the management sold their positions long before the stock dropped. In March of this year the company raised $16.4 Million in a private placement. A month later they had little left. Somebody on this thread phoned the management and they said each rig costs $0.5 Million. That is probably true. Therefore to use up this money they must of had 38 drill rigs working in one month. This is impossible.

A couple of weeks ago they wanted to borrow money from another Junior with common management. When I see a junior borrowing money for exploration there is something seriously wrong.

In the long term I think its in trouble. However a discovery solves everything. I suggest you re-read this thread and their wonderful news releases and see if you believe them.
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